Russian youth is disillusioned in cash

More than half of Russians aged 18 to 24 years ready to completely abandon the use of cash. It is reported TASS citing data from studies of payment system “World”.

The study found that paper money does not need about half of people with high income: it is about the senior and middle managers. Cash is not ready to abandon retirees (81 percent), people with incomes below 20 thousand rubles (64 percent) and service workers (66 per cent). Their reluctance to abandon cash, the majority of respondents explained by the fact that non-cash payment is accepted not everywhere.

In early October, the head of the Central Bank Elvira Nabiullina said that the cash will not disappear from use. She named two reasons why people use cash and keep their savings in cash. First, it is due to the desire for anonymity, and second, the distrust of the stability of financial institutions. “Because of the problems with the banks still happen,” she stated and assured that this issue will be resolved.